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Apr 22, 2013
04/13
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>> this is faa, not tsa. but la hood knows all he has to do is say, that's the way it is, it's terrible. most people buy it. are you going to argue with this guy? you should. most people say, sequestration is terrible. we don't have enough money. when you look beyond it, and is we have to look beyond it, labor unions are, the organizations that represent airlines do. they'll all be on it. >> mike, real quick. gary, you're taking a trip today? i do have to fly today, yes. >> and the question is, if you're waking up this morning, you have a choice of which airport you're going to, he's going to laguardia, maybe, new york or jfk. >> give me some advice. >> what do you do? we're trying to get him into teet teeterboro. mike? >> any airport is going to get gummed up. >> it doesn't matter? >> no. look, your delay out of laguardia means you're going to miss your connection in chicago. so it's a whole system. omaha is going to get hit, lincoln is going to get hit, everybody is going to get hi it. >> but to be fair, we
>> this is faa, not tsa. but la hood knows all he has to do is say, that's the way it is, it's terrible. most people buy it. are you going to argue with this guy? you should. most people say, sequestration is terrible. we don't have enough money. when you look beyond it, and is we have to look beyond it, labor unions are, the organizations that represent airlines do. they'll all be on it. >> mike, real quick. gary, you're taking a trip today? i do have to fly today, yes. >>...
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Apr 22, 2013
04/13
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we had an faa statement release toefrd weekend reading in part, the faa will be working with the airlines and using a comprehensive set of air traffic management tools to minimize the delay impacts of lower staffing as we move into the busy summer travel season. now, we've got a counter view from the global visit travel association. they're saying, quote, our nation's xhid and businesses will pay a very steep price that significantly outstrips the goals produced savings through those furloughs. business and leisure travellers we talked to earlier today agree. >> traveling is stressful enough and when you don't know how long it's going to take you to get through the line, you have to add extra time that you wish you didn't have to to get from point a to point b. >> that will impact not only the stockholders, the employees, but also all of our customers. >> now, for the record, the faa will be furloughing 15,000 controllers. they have to take at least one day off every other week from now through the end of september. in our next update on "power lun lunch" we're going to talk to a spokesma
we had an faa statement release toefrd weekend reading in part, the faa will be working with the airlines and using a comprehensive set of air traffic management tools to minimize the delay impacts of lower staffing as we move into the busy summer travel season. now, we've got a counter view from the global visit travel association. they're saying, quote, our nation's xhid and businesses will pay a very steep price that significantly outstrips the goals produced savings through those furloughs....
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Apr 22, 2013
04/13
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>> i think it's less likely they'll get the faa to change their mind. it's more likely if there's huge public outcry that then you have people in congress who will say, okay, what can we do special in terms of funding so that the faa can reverse this? but i don't think the faa has any plans to change it on its own. >> all right, guys. we have breaking news. we want to -- thank you so much for joining us. get to our breaking news desk. authorities in canada are announcing a thwarted terrorist attack via amtrak between new york and montreal. let's listen to this. >> before we start, i would ask that you please turn off or put on silent mode your cell phones. today's press conference will last approximately 30 minutes. the rcp will be making statements on a national security criminal investigation. integrated national security enforcement teams in montreal and toronto. the statements will be followed by a short question period. >> okay. we want to get you the details of this press conference happening right now in canada. let's get to bertha coombs to give
>> i think it's less likely they'll get the faa to change their mind. it's more likely if there's huge public outcry that then you have people in congress who will say, okay, what can we do special in terms of funding so that the faa can reverse this? but i don't think the faa has any plans to change it on its own. >> all right, guys. we have breaking news. we want to -- thank you so much for joining us. get to our breaking news desk. authorities in canada are announcing a thwarted...
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Apr 23, 2013
04/13
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we're going to show you that the faa has had a massive -- that's the blue line. they've gone from about $2 billion all the way up to over $5 billion in their operating budget since 2008. they're off the pink but still very high. and at the same time, the faa has gotten this massive increase of $2 billion to over $5 billion. traffic, domestic traffic, has plunged. has plunged from -- let's see. from 11 -- almost 11el million flights down to 9.5 million flights. so more money chasing fewer flights and furloughing workers to make life hard. what's that about? >> these are the priorities of government. and they would be absurd if they weren't just outrageous. they whose -- faa chose to prioritize air safety and passenger service, chose inflict as much political pain as possible on the traveling public. they have the money. as you pointed out. and they have a lot less, what i would say, frivolous spending on conferences, consultants, supplies, that they could be, frankly, prioritizing for -- another thing is, a year-and-a-half. since the sequester law became law to se
we're going to show you that the faa has had a massive -- that's the blue line. they've gone from about $2 billion all the way up to over $5 billion in their operating budget since 2008. they're off the pink but still very high. and at the same time, the faa has gotten this massive increase of $2 billion to over $5 billion. traffic, domestic traffic, has plunged. has plunged from -- let's see. from 11 -- almost 11el million flights down to 9.5 million flights. so more money chasing fewer...
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Apr 23, 2013
04/13
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they blame it on furloughs from the faa. the faa intends to cut 10% of staffing. that's to save roughly $200 million coming out of the $637 million that it needs to cut from its budget. now the board behind me shows we are with seeing delays of 15 to 45 minutes in terms of the departures. in terms of the arrivals we are seeing 30 to 45 minutes. of course that's due to congestion. we have data that shows yesterday more than half of the flights at this airport did experience a delay. in addition to some security concerns, of course, from the furlough, how this is going to impact airlines and the broader economy is a big issue. southwest estimates the cost could be $200 million a year for that airline. american, of course, a bigger airline saying that it could cost them $650 million a year. carl, a couple of caveats to think about. of course weather could be the biggest reason you see flight delays. we had windy conditions here in new york city. everybody was willing to point the finger at the sequester. the other issue, of course, is the fact that you have different
they blame it on furloughs from the faa. the faa intends to cut 10% of staffing. that's to save roughly $200 million coming out of the $637 million that it needs to cut from its budget. now the board behind me shows we are with seeing delays of 15 to 45 minutes in terms of the departures. in terms of the arrivals we are seeing 30 to 45 minutes. of course that's due to congestion. we have data that shows yesterday more than half of the flights at this airport did experience a delay. in addition...
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Apr 23, 2013
04/13
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the faa has cut 47,000 positions. that's approximately 10% of its staff. that's to trim $200 million from its budget. but some passengers are questioning at what cost these savings are coming and some in washington are echoing that same sentiment. >> it is a matter of basic common sense that saving the $50 million at stake here is not really saving at all. in fact, it's penny wise, pound foolish. it is long-term, a cost to the nation. >> and what he's talking about right there is this domino effect that people are concerned about. of course, they're worried about the airlines and their bottom line, but if business travelers and other domestic travelers decide that these inconveniences will keep them from their travel plans, then you can see that spill over into the rest of the u.s. economy, and that's really the greater concern right now. bill, back over you. >> it's hitting us where we live, that's for sure. jackie, thank you very much. we are heading towards the close. 30 minutes left in the trading day. and we're getting, we're moving higher here. the b
the faa has cut 47,000 positions. that's approximately 10% of its staff. that's to trim $200 million from its budget. but some passengers are questioning at what cost these savings are coming and some in washington are echoing that same sentiment. >> it is a matter of basic common sense that saving the $50 million at stake here is not really saving at all. in fact, it's penny wise, pound foolish. it is long-term, a cost to the nation. >> and what he's talking about right there is...
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Apr 23, 2013
04/13
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the faa says listen, you can't come in. we don't have enough people. we can't do the job. it was remarkable. we said how long? two and a half hours? why is that? >> maybe two and a half hours the faa says they might be able to round up enough people to land the airplanes in kennedy. >> that is stunning. i was watching in horror because i have to travel next week. >> take the train. i was going to go to washington. forget the airplane. just get on the train. it's too high risk. they didn't know their plane would not take off until the doors were closed and we were wheels up in 15 minute, they thought was the maximum and the pilot comes back and says listen, we can't land. they don't have enough people to land us in kennedy. >> thank you for the tweets on that because honestly and we were glad you brought it to our attention. thank you very much. >> our guest host this morning is henry blodget. he has thoughts on there as well. squawk will be right back. ♪ ♪ ♪ ♪ ♪ the new blackberry z10. with time shift and blackberry balance. built to keep you moving. see it in ac
the faa says listen, you can't come in. we don't have enough people. we can't do the job. it was remarkable. we said how long? two and a half hours? why is that? >> maybe two and a half hours the faa says they might be able to round up enough people to land the airplanes in kennedy. >> that is stunning. i was watching in horror because i have to travel next week. >> take the train. i was going to go to washington. forget the airplane. just get on the train. it's too high risk....
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Apr 23, 2013
04/13
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airports on monday as the faa began imposing furloughs of air traffic controls. but the widespread traffic never really materialized. flight aware.com says only about 150 flights were canceled. and is while some people waited nearly two hours to take off, delays were much shorter on average. let's get more now from aviation industry consultant ray. ray, good to see you. this isn't just a story about monday, is it? the real question is what happens as these furloughs continue to play out? >> yes. it's going to take at least a couple of days before we see the full impact of these budget cuts. >> talk a little bit about what's coming down the pike. it's pretty significant, to some extent. >> it is. and i think this puts forward a good argument on why the faa should be a public corporation in the u.s. with its own budget to get away from some of the politics of washington. this is a mandatory type of function that the airlines do need and is it's going to be very costly to the airlines, i believe, if this situation continues to move into the higher travel season. >>
airports on monday as the faa began imposing furloughs of air traffic controls. but the widespread traffic never really materialized. flight aware.com says only about 150 flights were canceled. and is while some people waited nearly two hours to take off, delays were much shorter on average. let's get more now from aviation industry consultant ray. ray, good to see you. this isn't just a story about monday, is it? the real question is what happens as these furloughs continue to play out?...
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Apr 24, 2013
04/13
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even the faa could not ground this stock chart. it wants to go higher. it was grounded under '77 for 3 1/2 years. and finally this year, the stock broke higher. i would love to buy this on any sort of pullback, but longer term, you know, put the seat back, relax, loosen the seat belt. this stock wants to go to 105. >> the animal way the trade off of that chart is going to fly is if you fold it up and make it a paper airline. it's a 52-week high, it's come a long way, 27 year-to-date, great earnings, but the time to buy is when they were grounded for the batteries, not when they're about to get back in the air. so we are seeing right now a bigger short interest come into this name here. we're seeing potential, you know, the lag, the way sequestration works, bill, you're going to see a lag. this could be a situation as we go into summer and fall, sequestration hits us. but we like this company on a pullback. it's based in chicago, i'm a big fan of boeing, but way too expensive here. >> jeff, why don't you hop on a plane back to chicago with all of that. >>
even the faa could not ground this stock chart. it wants to go higher. it was grounded under '77 for 3 1/2 years. and finally this year, the stock broke higher. i would love to buy this on any sort of pullback, but longer term, you know, put the seat back, relax, loosen the seat belt. this stock wants to go to 105. >> the animal way the trade off of that chart is going to fly is if you fold it up and make it a paper airline. it's a 52-week high, it's come a long way, 27 year-to-date,...
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Apr 24, 2013
04/13
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governor scott from florida put out a message today saying c'me on, faa, stop playing a game. yes, usairways still the way to go. michael. >> caller: a super big boo-yah, jim, from manchester, new jersey. >> love it. i'm not that familiar wit. that's okay. >> caller: nine times over. with the recent bank of america stuff yesterday, what is going to happen to the stock when the federal reserve stops its qe and also, do you think the stock has potential to hit $20 above or above by 20 lean? >> there's a lot of mystery about what happens with the federal reserve stocks. i'm going to demystify. they go higher within they do get that's why the bank stocks act like total dogs. lots of people come on air and they real they say really stupid things. they're wrong, bulls and bears make money and lemmings get, well, aah. if it looks like a leming, if it smells like a lemming, they only saw their behavior today. i think it may turn out to be a gift in disguise. "mad money" will be right back. >> announcer: coming up, green? it's green week at universal. cramer has the companies that can
governor scott from florida put out a message today saying c'me on, faa, stop playing a game. yes, usairways still the way to go. michael. >> caller: a super big boo-yah, jim, from manchester, new jersey. >> love it. i'm not that familiar wit. that's okay. >> caller: nine times over. with the recent bank of america stuff yesterday, what is going to happen to the stock when the federal reserve stops its qe and also, do you think the stock has potential to hit $20 above or above...
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Apr 24, 2013
04/13
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remember, we are probably within a day or two of the faa lifting the grounding on the dreamliner. boeing never had to bring down the delivery schedule. further out investors are having more confidence and more comfort with boeing. on the ford story, the issue here is whether or not ford can give investors confidence that things in europe are improving. they're going to report a loss. they're going to lose $2 billion in europe this year. that's their forecast at this point. north america is really the engine that's powering these guys right now. think about this, kelly. we expect them for the first quarter to report a profit in north america of greater than $2.7 billion. that would easily be the most profitable first quarter ever for the company probably with a profit margin of close to or if not past 12%. that is the area that when he first took over said we need to get profit margins up north of 10%. they're doing that in north america. the issue remains what's going on in europe and how quickly they are coming along and restructuring it. >> the german automaker saying first quar
remember, we are probably within a day or two of the faa lifting the grounding on the dreamliner. boeing never had to bring down the delivery schedule. further out investors are having more confidence and more comfort with boeing. on the ford story, the issue here is whether or not ford can give investors confidence that things in europe are improving. they're going to report a loss. they're going to lose $2 billion in europe this year. that's their forecast at this point. north america is...
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Apr 22, 2013
04/13
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also delayed travelers finding themselves waiting in airports as faa furloughs just kicked in. >>> and the investigation in boston, the wounded marathon bombing suspect, he's now responding to questions. it's monday, april 22nd, 2013 and "squawk box" -- it's early, it's monday morning, it begins right now.
also delayed travelers finding themselves waiting in airports as faa furloughs just kicked in. >>> and the investigation in boston, the wounded marathon bombing suspect, he's now responding to questions. it's monday, april 22nd, 2013 and "squawk box" -- it's early, it's monday morning, it begins right now.
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Apr 19, 2013
04/13
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separately, there are reports that the faa could approve boeing 787 dreamliner battery fix and in the plane's three-month grounding and that will probably be impacting the stock today. >> blackstone is ending its pursuit of dell ending the nationwide drop in pc sales and the move is founder michael dell and blackstone pulling out one month after it launched its will challenge to attempt to take dell private and dell shares are trading down in pre-market trading. general electric releasing first quarter earnings this morning and the company reported a 16% jump in earnings versus next quarter. last year on increased oil and gas drilling equipment sales and ge shed the last of its stake in nbc universal, and we have some breaking news, i believe. i'll go to beck owe this. we apparently have breaking news and not sure where we're going for this, but it does -- the affiliate in boston. i take it back. art hogan is standing by at lazard in boston and the events of today have shut down a wide swath of activity and this is not boston, this is not business as usual in boston. at this point abo
separately, there are reports that the faa could approve boeing 787 dreamliner battery fix and in the plane's three-month grounding and that will probably be impacting the stock today. >> blackstone is ending its pursuit of dell ending the nationwide drop in pc sales and the move is founder michael dell and blackstone pulling out one month after it launched its will challenge to attempt to take dell private and dell shares are trading down in pre-market trading. general electric releasing...
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Apr 24, 2013
04/13
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. >> there is a report out of the capital of ethiopia, saying ethiopian airlines is the -- the faa has not lifted the grounding with airworthiness directive. we expect it to happen today, tomorrow or maybe friday, but relatively soon. ethiopian airlines saying it will be the first post-grounding flight to kenya. this is what we'll be seeing over the next couple of weeks. once the grounding is lifted, the companies that have the dream liners and they're fixed will go back into service. >> everyone doubted them just like novak. people should stop doubting good ceos that know how to deliver. >> we will get six in 60 after a break. [ male announcer ] here at optionsxpress, our clients really seem to appreciate our powerful, easy-to-use platform. no, thank you. we know you're always looking for the best fill price. and walk limit automatically tries to find it for you. just set your start and end price. and let it do its thing. wow, more fan mail. hey ray, my uncle wanted to say thanks for idea hub. o well tell him i said you're welcome. he loves how he can click on it and get specific acti
. >> there is a report out of the capital of ethiopia, saying ethiopian airlines is the -- the faa has not lifted the grounding with airworthiness directive. we expect it to happen today, tomorrow or maybe friday, but relatively soon. ethiopian airlines saying it will be the first post-grounding flight to kenya. this is what we'll be seeing over the next couple of weeks. once the grounding is lifted, the companies that have the dream liners and they're fixed will go back into service....
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Apr 24, 2013
04/13
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one, the faa is going to lift the grounding. it's going to happen very soon. and once that happens, then you're going to see these fixes when they're finished. the airlines will start putting the dream liners back in the air, deliveries will return. and you don't see a change in the delivery schedule. that's one thing, and the other thing to keep in mind, the 737 program is the bread and butter at this company. and they've been increasing their production rate on a steady basis. that's really the workhorse at this company. and the 737 is on fire right now. doesn't get any attention because everybody looks at it and says, that's kind of mundane, but it really has been doing well. >> there's got to be another expression, phil. with the battery issue and all that stuff. doing really well the 737s, right? >> doing very well. >> there you go. >> i'm looking through -- it's secondary compared to the commercial airline stuff. but the defense, space and security there were questions about whether or not that might be impacted by sequester. one analyst said it may shav
one, the faa is going to lift the grounding. it's going to happen very soon. and once that happens, then you're going to see these fixes when they're finished. the airlines will start putting the dream liners back in the air, deliveries will return. and you don't see a change in the delivery schedule. that's one thing, and the other thing to keep in mind, the 737 program is the bread and butter at this company. and they've been increasing their production rate on a steady basis. that's really...